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Mixed sales results, but automaker stocks rise on need for cars in Houston

DETROIT — The Big Three Detroit automakers on Friday reported better-than-expected August sales and issued optimistic outlooks for demand as residents of the Houston area replace flood-damaged cars and trucks after Hurricane Harvey, sending their stocks higher. General Motors, Ford and Fiat Chrysler posted mixed August U.S. sales, with GM up 7.5 percent and Ford and Fiat Chrysler down. Japanese automaker Toyota improved sales by nearly 7 percent, while Honda fell 2.4 percent. Still, analysts focused on the potential for Detroit automakers to cut inventories and stabilize used vehicle prices as residents of Houston, the fourth largest city in the United States, are forced to replace tens of thousands, perhaps hundreds of thousands, of vehicles after the devastation from Hurricane Harvey. Mark LaNeve, Ford's U.S. sales chief, told analysts on Friday that following Hurricane Katrina in 2005 "we saw a very dramatic snapback" in demand. That said, Ford sales fell 2.1 percent in August. It sold 209,897 vehicles in the United States, compared with 214,482 a year earlier. Sales were down 1.9 percent in the Ford division and off 5.8 percent at Lincoln. Demand was down for cars, crossovers and SUVs. It was not clear how many vehicles in the Houston area will be scrapped, LaNeve said, saying he had seen estimates ranging from 200,000 to 400,000 to 1 million. Ford's Houston dealers may have lost fewer than 5,000 vehicles in inventory, he said. Ford is the No. 1 automaker in the Houston market, with 18 percent share, according to IHS Markit. The company plans to ship used vehicles to Houston dealers and has "every indication we would have to add some production" of new vehicles to meet demand, LaNeve said. Investor concerns about inventories of unsold vehicles and falling used car prices have weighed on Detroit automakers' shares most of this year. Now, automakers can anticipate a jolt of demand from a big market that is a stronghold for Detroit brand trucks and SUVs. "It's got to be a positive for the industry," LaNeve said. Investors appeared to agree. GM shares rose as much as 3.3 percent to their highest since early March. Ford increased 2.8 percent at $11.34, and Fiat Chrysler's U.S.-traded shares were up 5.2 percent $15.91, hitting their highest in more than five years. GM reported a 7.5 percent increase in U.S. auto sales in August, helped by robust sales of crossovers across its four brands.

Audi Q7 E-Tron Quattro TDI Quick Spin

The operating word is quiet. This refers both to the sound inside the cabin of the upcoming Audi Q7 E-Tron Quattro TDI – even with the diesel engine running – and the company's public statements about its plan for this powertrain in the United States. Basically, while Europe is getting the diesel plug-in sometime next spring (a bit of a delay), all we know for sure right now is that the US will be getting the Q7 E-Tron, probably in 2018, and it will have either a 3.0-liter turbodiesel or 2.0-liter turbocharged gas engine. You may now place your bets as to which one you think the public (or, more likely, CARB) will go for. We're guessing 2.0T. Despite not knowing if we'll ever see this E-Tron TDI on our side of the Atlantic, we recently spent an enjoyable morning tooling around the hills outside Madrid, Spain. As we said, this beast is seriously quiet, and impressively so. Driving Notes The Q7 is a big vehicle, but with powertrain that combines electric motors and diesel thrust, there's a ton of low-end torque. The official 0-62 time is 6.0 seconds, which is basically the same as the 6.1 seconds of the non-PHEV Q7. The Q7 E-Tron is about 500 pounds heavier than the already-4,700-pound Q7, but because of its trick powertrain, never felt sluggish in the hills of Spain. This Q7 E-Tron is a parallel hybrid, with the 3.0-liter TDI diesel engine and the 94-kW disc motor both able to drive the wheels. Overall, they provide 373 horsepower and 516 pound-feet of torque. Despite the parallel system, the not-quite-powerful-enough electric motor doesn't provide the complete electric drive experience that EV fans might be looking for. For example, the Q7 E-Tron has a top speed of 139.8 mph, but that's only in hybrid mode. In EV mode, its top speed is just 78 mph. Audi's Virtual Cockpit display, first seen in the TT, remains an ideal way to give you a wealth of information in an easy-to-see format. It's just as slick in the Q7, where you can toggle the size of the gauges and then pick what you want the screen to focus on, whether that's speed limits, infotainment information, powertrain usage, speed, or navigation.

Weekly Recap: Audi pulls back the curtain on its future

The E-Tron Quattro concept is the future of Audi. It embodies all of the traits that will make the brand – and electric-powered luxury vehicles – more relevant into the 2020s. Here's why: The E-Tron Quattro concept, which will debut next month at the Frankfurt Motor Show, is a large sport utility vehicle that promises a range of 311 miles. It's an all-electric daily driver that fits the needs of most Americans. In production – which Audi says starts in 2018 – this vehicle will seat five and likely be called the Q6. You can take your family from Boston to Philadelphia without recharging. That's mainstream. We're moving away from the industry's "science experiment" era (as General Motors product chief Mark Reuss once described the appearance of the first gen-Chevy Volt) to a period where electric vehicles are plausible and practical for many US buyers. The 2018 Q6's only holdup for the masses will be price. But if you can afford an Audi SUV, you'll be able to buy an all-electric version. The E-Tron concept uses Volkswagen Group's second-generation modular longitudinal platform. The lithium-ion battery is located between the axles and below the cabin. Urquhart says the production model will feature the automaker's latest battery technology developed with LG Chem and Samsung. IHS Automotive projects the Q6 will sell more than 40,000 units annually by the end of the decade. "The E-Tron Quattro is a precursor for what will be an exciting and landmark production model for Audi and will position the brand at the forefront of the premium EV market," IHS analyst Tim Urquhart wrote in a commentary. It's the Tesla-zation of America. It's the Tesla-zation of America. The Q6 will be a Model X fighter, and expect other automakers to follow suit, particularly in the luxury sector with SUVs and other large vehicles. They offer more space for the battery packs, and development costs can be recovered easier. "Premium brands have an inbuilt advantage in terms of introducing [electric] powertrains over more mainstream automotive brands," Urquhart wrote. OTHER NEWS & NOTES Analyst says Tesla stock could be worth $465 a share Morgan Stanley analyst Adam Jonas sent shockwaves through the industry when he said Tesla stock has the potential to reach a whopping $465 a share. That's a leap from its $230.77 price at Friday's market close.